The JCK New Delhi, scheduled June 27-30 at Pragati Maidan, has been canceled, “Due to the effect of the global economic downturn on the domestic jewelry market in India,” according to a statement on the show’s Web site.

Reed Exhibitions, which owns and operates the trade show, the decision to cancel “was taken in the best interests of exhibitors and visitors alike.” An announcement regarding the 2010 event “will be made in due course.”

The decision follows a March 8 report in an Indian publication that Reed Infomedia India Ltd, the joint-venture between Infomedia 18 Ltd and Reed Business Information, has ceased operations.

The company as a legal entity still stands, even though operations ended on 28 February, according to the report which sources a person familiar with the situation. The legal process to dismantle the joint venture is the next step.

Started in 2005, Reed Infomedia published JCK India, three additional magazines and a Web portal. Reed and Infomedia are in discussions to decide which of these titles can be published by the latter under a license, according to a report, again citing unnamed sources, saying that there is an agreement in principle to continue to publish JCK India and another title.

JCK